Traders Purchase High Volume of Call Options on Newell Brands (NASDAQ:NWL)

Newell Brands Inc. (NASDAQ:NWL) was the target of unusually large options trading on Thursday. Stock investors acquired 63,054 call options on the stock. This represents an increase of 4,043% compared to the typical daily volume of 1,522 call options.

Wall Street Analyst Weigh In

NWL has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating on shares of Newell Brands in a report on Thursday, October 22nd. Zacks Research upgraded shares of Newell Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Canaccord Genuity Group raised their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of Newell Brands in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of Newell Brands from $4.00 to $5.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.66.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $5.08 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of -9.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88. The company has a quick ratio of 0.59, a current ratio of 1.11 and a debt-to-equity ratio of 1.85. Newell Brands has a 52 week low of $3.07 and a 52 week high of $7.13. The business’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $4.83.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Newell Brands had a negative net margin of 3.05% and a positive return on equity of 12.31%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Equities analysts forecast that Newell Brands will post 0.76 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, August 31st. Newell Brands’s payout ratio is -52.83%.

Insider Buying and Selling at Newell Brands

In other news, insider Bradford Turner sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $6.16, for a total value of $616,000.00. Following the completion of the sale, the insider directly owned 433,398 shares in the company, valued at $2,669,731.68. This represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Newell Brands during the 2nd quarter worth approximately $436,133,000. Pzena Investment Management LLC purchased a new position in Newell Brands in the 2nd quarter valued at approximately $294,663,000. Rubric Capital Management LP boosted its position in Newell Brands by 17.4% in the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock valued at $52,333,000 after buying an additional 2,257,431 shares during the period. Primecap Management Co. CA acquired a new position in shares of Newell Brands in the second quarter worth $36,003,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Newell Brands in the second quarter worth $15,135,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.